CIC's CEO Christopher Pennington interviewed "Why Canary Islands Attract Hollywood Blockbusters"?
Updated: Jan 10, 2020
Silvester Stallone's Rambo V is the latest blockbuster to be filmed in the Canary Islands and is expected to generate millions of euros for the local economy following on from other Hollywood successes shot on the islands.
The Cabildo de Tenerife has said filming of the latest Rambo film in Tenerife will generate more than eight million euros for the local economy.
The fifth installment of the series starring Sylvester Stallone, was filmed in Tenerife in 2019, the latest in a number of big budget movies to be filmed on the islands.
(Jason Bourne, Clash of the Titans, Fast & Furious 6, and Heart of the Sea).
Capital Investment Canaries CEO "Christopher Pennington" recently spoke to a group of Independent European Film Producers to explain Why Canary Islands managed to capture more than a dozen Hollywood Blockbusters filmed in the Canary Islands in recent years. "Many people are ask me Why The Canary Islands is such an attractive destination for film production. Most people are unaware that the Canary Islands offer Film Producers some of the most advantageous tax incentives in Europe.
The Canaries boasts special incentives such as; 40% Tax Credits for Film Production, 4% Corporate Tax Rate for ZEC Companies, and as little as 2.5% Tax for Reinvestment in projects in The Canary Islands it's easy to see why so many Hollywood productions have chosen the islands taking advantage of the diverse environment and scenery the islands have to offer. Now the Canaries have proven to be successful at the highest level you can rest assure, this is a trend that isn't likely to slowdown anytime soon. Capital Investment Canaries specialises in corporate and investment structures with our team of international legal and fiscal experts based in Santa Cruz, Las Palmas, London and Malta. We look forward to working closely with other international and European Film Producers".
To find out more about The Canary Islands Film Commissions & Film Production Tax Incentives contact;
EU Office: +34 674 136 977
UK Office: +44 (0) 7931 384 374
Capital Investment Canaries CEO
Christopher Pennington with Canary Islands Governments ZEC Deputy President, Milagros Luis Brito.
Recent productions include;
Clash of the Titans, Fast & Furious 6, Heart of the Sea, Star Wars, Rambo 5, & Wrath of the Titans.